Croatia: Industrial activity falls at softer pace in July
September 1, 2020
Industrial output fell at a softer pace of 1.6% year-on-year in working-day adjusted terms in July (June: -1.8% yoy). Looking at the details of the release, July’s weaker contraction was primarily driven by a pick-up in utilities supply output.
On a monthly basis, factory output growth moderated to 5.6% in seasonally-adjusted terms in July (June: +7.5% s.a. mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 3.5% in July, down from June’s minus 3.1%.